Mnemosyne Pharmaceuticals Secures $5.4M in Series A Financing

Mnemosyne Pharmaceuticals, a Providence, Rhode Island-based biotechnology company focused on the discovery and development of small molecule drugs to treat neuropsychiatric disorders, has secured $5.4m in a Series A financing.

The round was led by Access BridgeGap Ventures, with participation from existing investor Slater Technology Fund.

The company intends to use the capital to advance its drug discovery programs, and identify lead product candidates for treatment of schizophrenia and other neuropsychiatric disorders.

Founded in 2010 and led by president and CEO Kollol Pal, Ph.D., Mnemosyne Pharmaceuticals is focusing its discovery efforts on targeting the NMDA receptor, which is known to be the “master” switch for learning and memory. Its lead program is for schizophrenia, and the company is exploring additional indications including Alzheimer’s disease, recovery from stroke and traumatic brain injury, and attention deficit/hyperactivity disorder.



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